The European Commission has stated that it had put a formal request for advice with the European Banking Authority for the authority's views on the possibility of defining a category of "high quality securitisations" to be used in banking regulations. This could presage the possibility of the various banking regulations mandated by the CRD and the CRR following a similar approach to that outlined in the recent EIOPA report on the capital requirements for insurance companies. In its recent proposals, EIOPA defined a high quality securitisation category with lower capital requirements. This approach, which PCS has long advocated, opens the possibility of a more discriminating approach to securitisation regulation as was called for by the Commission in its recent communication on long-term finance. By asking for the EBA's advice on this matter, the Commission is also focusing attention on the possibility of a harmonised approach to this subject. This would be a major positive step in preventing a fragmentation of a future securitisation market.